Globant (NYSE:GLOB) Given New $217.00 Price Target at Piper Sandler

Globant (NYSE:GLOB) had its price target increased by Piper Sandler from $212.00 to $217.00 in a research report released on Friday, Benzinga reports. They currently have an overweight rating on the information technology services provider’s stock.

A number of other analysts have also recently commented on the stock. TD Cowen cut their price target on shares of Globant from $207.00 to $205.00 and set an outperform rating on the stock in a research report on Friday, August 18th. KeyCorp cut their price target on shares of Globant from $230.00 to $218.00 and set an overweight rating on the stock in a research report on Friday. Piper Sandler Companies cut their price target on shares of Globant from $230.00 to $212.00 and set an overweight rating on the stock in a research report on Friday, November 10th. Needham & Company LLC upped their price target on shares of Globant from $205.00 to $215.00 and gave the company a buy rating in a research report on Friday. Finally, StockNews.com assumed coverage on shares of Globant in a report on Thursday, October 5th. They set a hold rating on the stock. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $218.38.

Globant Stock Up 2.3 %

Shares of Globant stock opened at $209.46 on Friday. Globant has a twelve month low of $135.40 and a twelve month high of $211.93. The stock has a market cap of $8.85 billion, a price-to-earnings ratio of 60.89 and a beta of 1.31. The company’s fifty day moving average is $189.64 and its 200 day moving average is $182.11.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GLOB. CI Investments Inc. grew its position in shares of Globant by 122.0% during the 3rd quarter. CI Investments Inc. now owns 131 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 72 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Globant by 233.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 200 shares of the information technology services provider’s stock valued at $33,000 after acquiring an additional 140 shares during the period. Clearstead Advisors LLC grew its position in shares of Globant by 1,566.7% during the 1st quarter. Clearstead Advisors LLC now owns 250 shares of the information technology services provider’s stock valued at $41,000 after acquiring an additional 235 shares during the period. Cornerstone Planning Group LLC bought a new position in Globant in the 2nd quarter worth approximately $50,000. Finally, Fortis Capital Advisors LLC bought a new position in Globant in the 1st quarter worth approximately $55,000. 91.49% of the stock is owned by institutional investors.

About Globant

Globant SA operates as a technology services company worldwide. The company offers e-commerce, new distribution capabilities, augmented revenue management, hyper connected operation, and conversational user experience services through reinvention studios; digital lending, commercial effectiveness, finance, sustainability, regulation analytic, transformation and post-merger integration, and payment and open banking services; and game and graphic engineering, UI and UX design, game as a service, DevOps, and online services, as well as high tech tools.